Plug Power Inc. (NASDAQ:PLUG - Get Free Report) shares fell 6.4% during mid-day trading on Friday . The stock traded as low as $2.46 and last traded at $2.57. 48,834,594 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 79,025,305 shares. The stock had previously closed at $2.74.
Analyst Ratings Changes
Several analysts recently commented on PLUG shares. Jefferies Financial Group cut their target price on shares of Plug Power from $2.20 to $2.00 and set a "hold" rating for the company in a research note on Thursday, October 3rd. Canaccord Genuity Group cut their price objective on Plug Power from $2.50 to $2.25 and set a "hold" rating for the company in a research report on Wednesday, November 13th. HC Wainwright restated a "buy" rating and issued a $18.00 target price on shares of Plug Power in a report on Wednesday, November 13th. BTIG Research downgraded Plug Power from a "buy" rating to a "neutral" rating in a report on Thursday, November 14th. Finally, Evercore ISI decreased their price target on Plug Power from $5.00 to $4.00 and set an "outperform" rating for the company in a research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Plug Power has a consensus rating of "Hold" and an average target price of $4.55.
View Our Latest Analysis on PLUG
Plug Power Price Performance
The company has a 50 day moving average of $2.34 and a 200 day moving average of $2.25. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15.
Plug Power (NASDAQ:PLUG - Get Free Report) last posted its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The business had revenue of $173.70 million during the quarter, compared to the consensus estimate of $207.25 million. During the same period in the prior year, the firm earned ($0.47) earnings per share. The business's revenue was down 12.6% on a year-over-year basis. As a group, equities analysts forecast that Plug Power Inc. will post -1.2 earnings per share for the current year.
Institutional Trading of Plug Power
A number of institutional investors and hedge funds have recently made changes to their positions in PLUG. Profund Advisors LLC bought a new stake in shares of Plug Power during the 2nd quarter worth $29,000. Prio Wealth Limited Partnership acquired a new position in Plug Power during the 3rd quarter worth $29,000. Catalyst Capital Advisors LLC boosted its holdings in Plug Power by 79.9% during the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker's stock valued at $29,000 after acquiring an additional 5,631 shares during the period. First Commonwealth Financial Corp PA acquired a new stake in shares of Plug Power in the third quarter valued at about $29,000. Finally, Millburn Ridgefield Corp increased its stake in shares of Plug Power by 79.9% in the third quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker's stock worth $29,000 after purchasing an additional 5,631 shares during the period. Institutional investors and hedge funds own 43.48% of the company's stock.
Plug Power Company Profile
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Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.
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